Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Nov 1, 2021

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The Lowdown

  • Many auto insurance companies that offer agreed value have reasonable auto insurance rates
  • Safeco is one of the major insurers with the best agreed-value plans
  • AAA may offer the best value for members, even if it does not offer agreed value

If you are looking for auto insurance companies that offer agreed value, you are in luck. A mix of major auto insurance providers and specialty companies are available to you.

Which companies offer agreed value insurance at affordable rates? We compare ten auto insurance companies that offer agreed value and six that do not. The former offers lower prices in general, but there are some limitations among the companies that do offer agreed value.

Read on to learn more about affordable auto insurance companies that offer agreed value, plus other companies listed here. If you want to see rates from top auto insurance providers in your neck of the woods, enter your ZIP code into our free quote tool above.

Which are the most affordable auto insurance companies that offer agreed value?

Here are the 10 best affordable auto insurance providers that offer agreed value auto insurance policies:

Auto Insurance Companies That Offer Agreed Value: Auto Insurance Rates & Coverages
Car Insurance CompanyDoes this company offer coverage for modifications?Does this company offer classic car or collector car insurance coverage?Average Annual Full Coverage Rates
American CollectorsYesYes$1,004.40
American ModernYesYes$1,481
State FarmYesYes$1,285.90
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Safeco might be the most affordable option from the major auto insurance companies based on its full coverage auto insurance rates. However, specialty auto insurance providers offer more savings on their classic auto policies alone.

The Best Specialty Agreed Value Auto Insurance Providers

American Modern, Grundy, and Hagerty may be the best specialty auto insurance providers based on pricing, coverage, and partnerships.

  • American Modern, like Hagerty, also works with some major insurance companies to provide classic auto insurance.
  • Hagerty and American Modern will immediately cover any new car you add to their policies.
  • American Modern and Grundy offer excellent towing services.

Additionally, all three companies will offer coverage for personal items, and they each have their unique strengths.

American Modern is consistently rated as one of the best specialty car insurance providers because it offers up to $2,000 in lost and stolen personal property and spare parts coverage.

Most other specialty car insurance companies only offer between $500-$750 for personal property coverage. American Modern also has an unlimited mileage plan.

Hagerty may be a better choice if you have a newer, customized vehicle.

Grundy offers some of the most flexible and generous plans for car owners. If you choose Grundy, you can add classic and regular-use cars to one policy and bundle that with home insurance.

However, while Grundy classic car insurance may be under $1,000 per year, a policy with various coverages may be more expensive than auto policies from many major providers.

The Best Major Auto Insurance Companies That Offer Agreed Value

Farmers Insurance and Safeco may offer the best affordable agreed-value plans from major insurers. They not only extend some of their primary and optional coverages to their classic car insurance, but they also offer agreed-value customized parts coverage.

Safeco may only cover modified classic cars. However, Safeco will cover a classic car by itself.

Which are the most affordable auto insurance companies that don’t offer agreed value?

A few major companies offer classic auto insurance while not expressly offering agreed value policies.

Auto Insurance Companies That Don’t Offer Agreed Value: Auto Insurance Rates & Coverages
Car Insurance CompanyCoverage for ModificationsClassic Car or Collector Car Insurance CoverageAverage Annual Full Coverage Rates
21st CenturyNoYes$1,424
American FamilyNoYes$1,461.50
Amica MutualNoNo$1,281.60
Auto Owners InsuranceNoYes$1,443
Liberty MutualNoYes$1,436.37
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All these companies tend to have higher rates than the companies that do offer agreed value policies. From this list, AAA may cost more for non-members. However, current AAA members will enjoy far more discounts.

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What should you look for in an agreed value policy?

Just as you would with a standard auto insurance policy, you should look for the following with an agreed value policy:

  • Depth of coverage: All policies should offer liability, collision, and comprehensive coverage, no matter how often you drive your insured vehicle. Some auto insurance providers will also offer medical payments, tools, and spare parts insurance.
  • Customer satisfaction ratings: Major insurance companies may have ratings from J.D. Power and the National Association of Insurance Commissioners. Some specialty insurance providers may have NAIC ratings.
  • Financial rankings: Find out how agencies like A.M. Best, Moody’s, and Standard & Poor’s rate each insurer’s financial strength. That should show you how likely the insurance providers can pay out claims. Many top insurers also produce yearly reports.

Of course, all the major auto insurance companies that provide agreed value auto insurance have deep coverage, but you can tailor your policies with specialty companies.

Most of the major insurance companies listed here did well in the 2021 J.D. Power customer satisfaction survey. Plus, these companies are all financially sound.

Use our guide to help you on your search for auto insurance companies that offer agreed value policies. If you’re ready to buy auto insurance now, enter your ZIP code into our quote tool below to get free auto insurance quotes from top companies in your area.